INDUSTRIAL REVOLUTION

FOUNDATIONS OF INDUSTRY

• Commercial Revolution
• Cottage Industry
• Scientific Revolution
• Capitalism

COTTAGE INDUSTRY

COTTAGE INDUSTRY

• Merchants contracted with rural families
• Paid by the piece for finished wool
• 4 to 5 spinners needed for 1 weaver
• Circumvented guild laws in the towns

INVENTIONS

• 1733 John Kay: Flying Shuttle
• 1764 James Hargreaves: Spinning Jenny
• 1769 Richard Arkwright: Water Frame
• 1779 Samuel Crompton: Spinning Mule

ENGLAND

AGRICULTURAL REVOLUTION

TECHNIQUES AND INVENTIONS

• Crop rotation
• New World crops
• Enclosure Movement
• Improved plough, fertilizer, seed drill
• National Market and Transportation

IMPORTANCE OF GOVT.

STABILITY AND PROTECTIONISM

• House of Commons - Middle class power
• Successful wars against France
• Navy and Colonial Empire
• Calico Acts - stopped importation of cotton from India
• Corn Laws - high tariffs on imported grain

SECOND WAVE OF TECHNOLOGY

• James Watt - Steam Engine
• Metallurgy - Iron
• Robert Fulton - Steamboat
• George Stephenson - Locomotive
• John McAdam - Paved Roads

CONTINENTAL INDUSTRIALIZATION

Continental Industrialization

State Led Industrialization

• Govt. investments in railroads, canals and other networks for communication or transportation
• Govt. backed national banks

Lagging Eastern Industry

• Lack of natural resources
• Dominance of landed aristocracy
• Persistence of serfdom
• Ineffective or nonexistent govt. investment